Welltower (WELL) AI Stock Analysis

Company Guidance

Welltower updated its full-year 2026 outlook to net income attributable to common stockholders of $3.31 to $3.37 per diluted share and normalized FFO of $6.47 to $6.53 per share, or $6.50 per share at the midpoint, representing 22.9% normalized FFO per share growth for 2026; the $0.10 increase at the midpoint comprises a $0.03 increase from senior housing operating NOI, a $0.055 increase from investment and financing activity, and a 1.5-cent increase from FX and income tax, slightly offset by higher expected G&A. The outlook assumes total portfolio year over year same store NOI growth of 15% to 16.25%, driven by outpatient medical of 2% to 3%, long term post acute of 2% to 3%, senior housing triple net of 3.5% to 4.5%, and senior housing operating of 20.25% to 21.75%, including revenue growth of 9.3%, RevPOR growth of 5.1%, a year over year 350-basis-point increase in occupancy, expense growth of 4.6%, and ExpPOR growth of approximately 60 basis-points; year-end net debt to adjusted EBITDA is expected to end in the low 3x range, and approximately $1.9 billion of expected dispositions position Welltower to fund approximately $7.7 billion of incremental investment activity.